OAR 340-180-0005
Authority, Purpose, and Scope
(1)
These rules are promulgated in accordance with and under the authority of ORS 466.706 (Definitions for ORS 466.706 to 466.882 and 466.994) through 466.835 (Compliance and correction costs as lien) and 466.895 through 466.995 (Criminal penalties) as amended by Chapter 1071, Oregon Laws, 1989 (House Bill 3080) and Chapter 863, Oregon Laws, 1991 (Senate Bill 1215).(2)
The purpose of these rules is to provide for the regulation of:(a)
Persons who receive guaranteed loans for soil remediation, upgrading of underground storage tanks, and replacement of underground storage tanks where the underground storage tanks contain motor fuel and are regulated by ORS 466.706 (Definitions for ORS 466.706 to 466.882 and 466.994) through 466.835 (Compliance and correction costs as lien) and 466.895 through 466.995 (Criminal penalties); to provide assistance to owners of underground storage tanks in meeting Environmental Protection Agency requirements and obtaining financial responsibility coverage; and(b)
Commercial lending institutions who issue guaranteed underground storage tank loans.(3)
These rules establish requirements and standards for:(a)
Loan guarantees of up to 80 percent of the loan principal not to exceed $64,000 for UST upgrading, UST replacement, and soil remediation;(b)
Applying and qualifying for a guaranteed loan through a commercial lending institution;(c)
Loan interest rates;(d)
Applying and qualifying for interest rate subsidies to commercial lending institutions;(e)
Loan default; and(f)
Administration and enforcement of these rules by the Department.(4)
Scope:(a)
OAR 340-180-0005 (Authority, Purpose, and Scope) through 340-180-0080 (Notice of Default on a Guaranteed Loan) applies to persons who receive loan guarantee certificates and loan guarantees for soil remediation, underground storage tank upgrading, and underground storage tank replacement;(b)
OAR 340-180-0090 (General Provisions, Interest Rate Subsidy and Tax Credit Certificate) through 340-180-0110 (Tax Credit Certificate) applies to persons who receive tax credit certificates and loan interest rate subsidies on loans for soil remediation, underground storage tank upgrading, and underground storage tank replacement;(c)
OAR 340-180-0120 (Notice of Compliance for Soil Remediation) applies to persons seeking a written notice of compliance from the Department for soil remediation.
Source:
Rule 340-180-0005 — Authority, Purpose, and Scope, https://secure.sos.state.or.us/oard/view.action?ruleNumber=340-180-0005.